Does Exodus Pay Stakes?
Yes Exodus does Pay Stakes!
This article will cover everything you need to know about how you can earn passive income inside of your Exodus wallet!
In this Article:
- How is it possible to make passive income with crypto?
- How can I stake inside of Exodus?
- Earn Rewards
- Compound Finance
How is it possible to make passive income with crypto?
With the introduction of the Proof of Stake consensus model which is the alternate mechanism to the Proof of Work model that allows transactions to be approved.
The Proof of Stake model allows you to hold Crypto and in most cases “delegate” it as resources to the given network to uphold and help the network, and as a result you get a bit of a reward.
Each Crypto is independent so your calculated rewards, how often you receive rewards and how to claim your rewards will be slightly different.
So here is an article to see exactly how you can make some extra money while you sleep!
How can I stake inside of Exodus?
Staking inside of Exodus is as simple as finding the Crypto you want to stake and start earning rewards!
Each crypto works differently so please have a read through the below options to see which crypto you would like to start earning rewards.
Each of the above cryptos have an Earn Rewards menu inside of their wallet within Exodus. To open the menu simply follow these steps:
Please note: We will be using Agorand for these examples however the steps will be the same with any of the above cryptos.
Images and instructions in this article are using the new Exodus App Navigation - you can turn it on or off in Settings > Apps. Read more about how the App Nav works here.
- Open the Crypto of your choice that supports staking.
- Click the three dots in the top right corner of the wallet.
- Click on Earn Rewards.
- Open the crypto of your choice that supports staking.
- Tap on the Earn Rewards icon in the top right corner of the wallet.
As an extra note to make some passive income, is Compound Finance. Compound Finance is a protocol built on the Ethereum blockchain that allows a user to lend their Ethereum assets to a pool of assets.
Once you have lent your asset to the Compound Finance protocol, you accrue interest every time an Ethereum block is mined. You are also free to withdraw your assets whenever you choose, giving you the freedom to lend and withdraw earnings as you wish.
Whilst this isn’t the same as the above staking crypto, it is definitely another easy way Exodus allows you to earn passive income!
Please learn more about Compound Finance here.
Please note: To start using Compound Finance you first to make sure you are using the new App Navigation.